The four-time Grand Slam winner has enjoyed huge success with her powerful baseline game but has struggled on clay
The survey findings also charted the financial stability of participants. The results indicate that 67 per cent of UAE nationals and 72 per cent of expatriate residents plan to pay off their liabilities and become debt-free by the end of this year.
Mohammad Bitar, chief commercial officer of National Bonds, said: "We are not surprised with the Q3 results. It reiterates our understanding that the awareness about the benefits of takaful coverage is still minimal among UAE residents."
The financial health check for Q3 2016 that focused on the takaful coverage of National Bonds' customers included all who had signed up for the Sanadi plan since its launch in April. Around 73 per cent of UAE national respondents who participated in the survey pointed out that they do not have takaful life coverage, compared to 27 per cent who are covered by traditional policies.
Within the UAE national pool of respondents, 89 per cent admitted to not being insured against disabilities through takaful in contrast to 11 per cent that have traditional coverage against disabilities.
The results among expat residents of the UAE indicate that 83 per cent of all nationalities have no takaful life coverage, while 17 per cent have traditional life insurance cover. In addition, 76 per cent of expat participants in the survey are not covered for disabilities through takaful, compared to 24 per cent that are insured for disabilities through traditional policies.
Speaking on the hesitation among UAE nationals towards saving for takaful, Bitar said: "Many UAE nationals work in the public and government sector and quite often do not feel the need for insurance coverage in addition to that already provided by their employers."
Signalling the success of Sanadi, National Bonds is currently settling the first claim for coverage against loss of employment by one of its regular savers via the local takaful partner. An amount of Dh60,000 will be paid out in monthly installments of Dh10,000 over a six-month period.
National Bonds has developed the Sanadi plan with the aim of contributing to the growth of Islamic financing tools that have proven effective in achieving financial stability.
In reference to the 2015 National Bonds Savings Index, it has been highlighted that loss of employment is a significant factor in the choice of savings plans for a majority of the survey participants: 39 per cent of Western expats, 34 per cent of Arab expats, 22 per cent of Asian expats and 10 per cent of UAE nationals.
- abdulbasit@khaleejtimes.com
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